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FTNTFortinet, Inc.

Options Analysis Report•COMPUTER PERIPHERAL EQUIPMENT, NEC
Market Cap $121.8B|NASDAQ
● 2026-08-31$166.00
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +115.8%YTD +113.1%7D +9.2%
9,548
30D
±12.0%
25%

FTNT Options Overview

IV is elevated. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

5.4VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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FTNT Gamma Walls

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Value

Is IV priced right?

6.4
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 87.1% — elevated vs history

<1.05x

IV/HV 0.88x — IV ≤ HV

Sector Relative≤50%

Sector percentile 52% — above sector median

<1.1x

Front/Back 0.81x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 43.8% — normal range

<80%

Effective IV 62.1% (ATM 43.8% + spread 9.2% + bias) — good value

<3.0%

Total drag 17.85% (spread 9.16% + slippage 8.69%) — high friction

≥5.0

Vega efficiency 52.08 (vega 47.701 / spread 9.16%) — efficient

Sentiment

Bullish or bearish?

4.9
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Weak signal (Conviction: +6%, Raw: +3%)
|net sentiment| ≥25%

Conviction-weighted: +6% (neutral) — Raw: +3%

≥15%

|OI skew| 6.1% — balanced

Same sign, |vol skew| ≥10%

Vol skew -1.8%, OI skew -6.1% — weak (same direction)

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -42%, ATM: -18%, OTM: +11% — strong bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 67% — bearish vs sector

Activity

Unusual activity?

4.0
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 1.4x avg — normal

≥15%

Vol/OI 5.7% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +8.7% (5d) — building

Sector Relative≥60%

Sector activity percentile 42% — neutral vs sector

≥30%

Large trade volume 15% — mixed

≥60%

Aggressive execution 31% — patient

≥30

Conviction +6 (bullish) — mixed

Liquidity

Can I trade efficiently?

4.5
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks3/8 checks passed
≤5.0%

Spread 9.2% — wide

≥10,000

OI 167,509 — deep

≥500

Volume 9,548/day — active

≤$0.50

$0.46 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 52% — neutral vs sector

≥100 contracts

Depth 98.5 contracts (bid:51.2 ask:47.3) — thin

<1.0%

Avg slippage 8.69% — poor

Timing

Is now a good time?

7.1
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -19.3% — contango

<30 or >70

IV percentile 87% — seller opportunity

≥10pts kink

IV kink -4.1pts — no clear event

<0.5 or >2.0

θ/ν ratio 696.36 — favors income trades

≥3 expirations

4 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +6% @ 53% consistency — unclear

≥40 composite score

Score 45 (ITM 20% + inst 15%) — moderate institutional

Directional Strategy Fit

Option Buyers
Long Calls5.7
bullishIV cheap, mixed flow
Long Puts5.8
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.8
bullishIV too cheap, mixed flow
Covered Call4.8
bearishIV too cheap, mixed flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

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